Spend Analysis Pro Tip #4 – Don’t Rely on Automation

Manual spend analyses are daunting. Procurement teams are tasked with collecting data from a variety of sources. Then there’s the daunting process of reviewing the data, removing duplicates, standardizing the information, and correcting any other errors. Certainly, full automation would make you Procurement department’s lives easier, right? Not necessarily.

Automation certainly makes life easier when it comes to supplier identification and classification. You might run into trouble, however, if the tool’s hard-coded rules aren’t flexible to your organization’s unique spend profile.